Inno3D has posted some info on what they claim to be a non-reference version of the GTX 470 card, but as far as we can see there hasn't been a lot of changes. Inno3D apparently changed the heatsink that will now have four instead of five heatpipes.

Some might find Inno3D's decision a bit odd, but if it works and keeps the temps at bay, we think that a smaller and cheaper heatsink makes sense. As far as the PCB goes, we can't see any drastic changes except for the colour which is now green instead of the much cooler looking black.

According to various sources around the net, Inno3D might also change the cooler shroud which unfortunately hasn't been pictured. Fermi runs hot and it is pretty loud, so a non-reference cooler should make sense, at least in theory.